1. law, govt and politics
2. government

Irdam Ahmad
STEKPI School of Business and Management
e-mail: irdam@stekpi.ac.id
Abstract
Fiscal dependence has been critized as one of the obstacles in the success of economic development post the regional autonomy. This paper evaluates the level of fiscal independence in districts
and cities in East Java Province and the impact of General Allocation Fund and Special Allocation
Fund on tax effort of regional government in East Java Province. The result shows that General
Allocation Fund significantly affects tax effort, while Special Allocation Fund does not significantly affect tax effort. It also finds that General Allocation Fund influences economic growth,
where for one percent increase in General Allocation Fund, regional economic growth increase by
0.28 percent.
Keywords: Fiscal independence, general allocation fund, special allocation fund, tax effort
JEL classification numbers: H21, H53, H71, H72
Abstrak
Ketergantungan fiskal telah ditengarai sebagai salah satu penghalang keberhasilan pembangunan
pasca pelaksanaan otonomi daerah. Makalah ini mengevaluasi tingkat kemandirian fiskal di kabupaten dan kota di Provinsi Jawa Timur dan dampak dari Dana Alokasi Umum dan Dana Alokasi
Khusus pada upaya pajak pemerintah daerah (kabupaten dan kota) di Provinsi Jawa Timur. Hasilnya menunjukkan bahwa Dana Alokasi Umum secara signifikan mempengaruhi upaya pajak, sementara Dana Alokasi Khusus tidak mempengaruhi upaya pajak secara signifikan. Penelitian ini
juga menemukan bahwa Dana Alokasi Umum mempengaruhi pertumbuhan ekonomi, dimana untuk satu persen peningkatan di Dana Alokasi Umum, pertumbuhan ekonomi daerah tumbuh 0.28
persen.
Keywords: Kemandirian fiskal, dana alokasi umum, dana alokasi khusus, upaya pajak
JEL classification numbers: H21, H53, H71, H72
INTRODUCTION
Since the enactment of Act No. 22/1999 on
Regional Governance, and Act No. 25/1999
on Equalizing Funds between Central and
Local Government, which then both acts
were updated to Act No. 32 and Act No.
33/2004, respectively, Indonesian central
government has been giving greater authorities to local governments to manage
more resources.
These greater authorities through
regional autonomy demands the districts to
be more fiscally independent, where each
region is expected to experience accelerated economic growth, which in turn can
increase local financial capacity and improve its service to the community. The
implementation of regional autonomy is
also expected to reduce local dependence
on central government, where local governments are expected to become more independent in terms of fiscal management,
and able to finance regional development in
accordance with the fiscal capabilities
sourced from its own potential.
190
One of the constraints in implementing regional autonomy is the fiscal
capability gap across districts. To overcome this obstacle, the central government
provides assistance in the form of transfers
to local governments through various financing schemes, namely the General Allocation Funds (GAF), the Special Allocation Fund (SAF) and Revenue Share Funds
(RSF). In accordance with the regulations,
districts with a relatively low fiscal capacity will get a larger share of GAF, compared to those with high fiscal capacity.
Thus, through the provision of GAF, it is
expected that fiscal disparities across regions can be reduced.
In addition, the GAF is also expected to increase local government capability in allocating these funds to productive sectors which could increase investment in the region, which in turn increase
economic growth, thus increasing the contribution of the community in terms of
taxes and or retribution. In such a case, the
district governments will be more independence as their fiscal capacity increase.
However, after several years, most
districts still not able to increase their fiscal
independence. The contribution of RII on
their total spending has not increased significantly. In some districts, the contribution of GAF to the total spending is greater
than the contribution of RII to total spending. Local governments tend to retain the
receipts GAF. It seems that the GAF
scheme has made these local governments
become more dependence on central government, and therefore discourage the local
tax effort.
Based on the aforementioned explanation, this paper investigates the nature
of fiscal independence. It also finds out
whether the implementation of the GAF
and SAF could stimulate regional tax effort.
Last but not least, it also investigates the
impact of RII, GAF, and SAF on economic
growth.
Research on the fiscal independence
pre and post the implementation of regional
autonomy has been done by many authors.
A fairly comprehensive study on the impact
of fiscal decentralization and economic
growth and income inequality across regions in Indonesia has been carried out by
Waluyo (2007), using a panel data from 33
provinces during the 2001-2005, employing
a simultaneous equation model. Income
inequality among regions is approximated
by Williamson weighted index. Waluyo
assumes that there is no linkage between
regions, namely, there is no migration and
movement of capital and goods between
regions. He applies a two-stage least square
(TSLS) technique. Evaluation of the quality
of the model is done by using the RMSE,
MAE, MAPE, and TIC.
Waluyo finds that fiscal decentralization increases economic growth in the
districts government, where an increase in
the central business district and regions rich
in natural resources is higher than that of in
an area that is not a business centre and
with poor natural resources. He suggests
that it is influenced by the mechanism of
transfer of funds Balancing Regional Financial Centre through the mechanism of
sharing of natural resources. This is because the allocation of funds for the natural
resources used for investment in key sectors in the economy will improve regional
economic growth. Revenue Share Funds
(RSF) are more profitable for urban areas
which is the centre of business and industry, due to higher local tax base, while for
the district with poor natural resources and
not the centre of business and industry,
they should rely solely on local revenues
from the GAF and SAF.
He also finds that fiscal decentralization reduces the income inequality between regions, especially between the regions in Java and outside Java, and between the western and eastern regions of
Indonesia. This is caused by the Equalizing
Funds transfer mechanism intended to re-
Regional Fiscal Independen … (Ahmad)
duce the impression of Java-centric economic development. The scarcity of natural
resources (such as oil, gas, and forestry) on
the island of Java have an impact on natural
resources revenue-sharing funds in Java is
relatively smaller than the area which are
rich in natural resources outside Java, although it is offset by the Revenue Sharing
Tax, GAF, and SAF.
Another important research on the
field, conducted in East Java Province, is
that of Makrifah (2010). She investigates
the effects of changes in financial management, both in terms of revenue and expenditure, on economic development in
some districts and cities in East Java province. She found that the ratio of RII to total
revenues is increasingly convergent, even
though the trend is negative. One of the
reasons is that the increase in RII is smaller
than the increase in total revenue. The slow
increase in RII is caused by the inability of
the region in exploring the potential of RII,
which stems from the limited natural and
human resources. Some regions such as
Surabaya and Gresik, Sidoarjo, and Kediri,
have a ratio of RII to total revenue is
greater than the other districts. This is due
to the dominance of industry and trade sector in the district, which is a major contributor of tax revenues.
From the aspect of spending, almost
all district or cities in East Java province
have ratios above 50 percent of routine expenditure, which means that most budgets
are still used for routine expenditures.
Thus, the increased ratio of RII to total
revenue, which is one of the goals of fiscal
decentralization, cannot be realized.
Yuliati (2001) measures and analyzes the degree of autonomy of Malang
district. She emphasizes on the degree of
decentralization, aid and fiscal capacity.
She finds that the dependence of Malang
Districts on the central government in fiscal
year 1995/1996 to 1999/2000 are still very
high.
191
Meanwhile, Muliana (2009) finds
that partially, the RII has a positive impact
on the level of local financial independence, while the GAF and SAF have a negative influence on the level of local financial
independence. Simultaneously, each of the
RII, GAF, and SAF has a positive effect on
local financial independence.
Sihite (2009) examines the effect of
RII, GAF, SAF, and capital spending on
economic growth in 15 regions in North
Sumatra Province, from 2004 to 2007. The
results show that partially, RII, GAF and
SAF have a positive impact on economic
growth, but the variable of capital expenditure has no effect on economic growth.
Chotimah (2006) describes the financial performance of the district Lumajang before decentralization (1997-2000)
and after decentralization (2001-2004). She
concludes that the level of financial independence in Lumajang district after decentralization (8.5%) is smaller than the level
of independence before the regional autonomy (14.3%). However, the effectiveness
and efficiency after decentralization is
higher than those of before the regional
autonomy. The growth in revenue, total
revenue, routine expenditure and development expenditure has been good.
Meanwhile, Wulansari (2006) discusses the calculation of budget reports before and after decentralization. She finds
that the average fiscal independence post
regional autonomy implementation is 7.51
percent, lower than that of pre regional
autonomy, which was 9.60 percent. The
ratio of growth in RII after decentralization
is 14.07 percent, lower than that of before
regional autonomy, which was 25.36 percent. From the analysis, we can conclude
that the financial performance of Asahan
district after decentralization does not significantly different from that of before decentralization. This is caused by high dependency of this region to the central government.
192
This study analyzes the degree of
fiscal independence of local governments
in East Java province. The study also analyzes the effect of GAF and SAF to tax effort undertaken by the regions. In addition,
this study looks at the influence of RII,
GAF and the SAF to economic growth of
the regions.
Before further analysis, this paper
will explain the definition of some key
variables in this study. Regional autonomy,
according to Act No. 32/2004, is the right,
authority, autonomous regions and obligations to regulate and administer their own
affairs and interests in accordance with
laws.
The implementation of regional
autonomy has to face the fact that districts
in Indonesia have different situation. Some
are more than ready for the implementation, while some others need a lot of things
to prepare. Two things cause this difference. The first is the differences in fiscal
capacity between regions. The second is the
existence of differences in managerial ability to manage a variety of resources, in
terms of human resources, biological resources and funds.
According to Halim (2004), there
are some key characteristics that need to be
considered if we are to evaluate the ability
of a region in implementing regional
autonomy. The first is the ability of local
finance, namely the ability and authority to
explore the area of financial resources and
manage its own finances to fund the government activities. The second characteristic is the minimum dependency on assistance from the central government. In other
words, the RII becomes the largest regional
financial resources.
The performance of regional finance can be measured using a degree of
fiscal decentralization between central and
local governments (detail on fiscal decentralization and fiscal relations can be seen
in De Mello, 2000). The higher the degree
of independence of a region, the higher the
capability of that region will be to finance
its own expenditures. The higher the contribution of local revenues and the higher
the ability to fund its own merits, the better
the financial performance of the region will
be.
Fiscal decentralization is a process
of budget distribution from the higher levels to lower levels of government to support the delegated functions or duties. Fiscal decentralization is a logical consequence of the implementation of regional
autonomy. The income sharing is done
through the mechanism of equalization
funds, namely the distribution of funds
across levels of government. The problem
of income sharing becomes a serious problem because the central government does
not allow local governments to conduct
publicdebt .
The implementation of fiscal decentralization can be done using expenditure
assignment and revenue assignment approach (Waluyo, 2007). This approach
states that the transfer of some tasks of
public services from central government to
local governments increases the role of local public goods. This policy was carried
out in two stages. The first is to determine
the limits of central and regional tasks.
Second is to explicitly divide the central
and regional government tasks. This approach requires that the Minimum Service
Standards (MSS) for any matters delegated
to local governments has been identified, so
the magnitude of the Standard Spending
Assessment (SSA)can be known .
The main characteristic of revenue
assignment approach is to improve the regional financial capability in order to finance the decentralized functions (Waluyo,
2007). The determination of the financing
sources which are given to regions is conducted using the tax assign. More on the
five principal in conducting tax assignment
can be read in Waluyo (2007).
There are at least three functions of a
govnerment, namely the function of distri-
Regional Fiscal Independen … (Ahmad)
bution, allocation, and stabilization. Distribution function aims to ensure fairness in
the distribution of income. Allocation of
functions aimed at improving the efficiency
of the allocation of economic resources.
Stabilization function aims to maintain economic stability as a whole, including employment, unemployment, economic growth
and price stability (more on government
function, please see Thai, 2001; and Brammer and Wakjer, 2011).
According to Act No. 33/2004, the
Equalizing Funds is funds from the central
government which is allocated to the regions to fund local needs in the context of
decentralization. Equalizing Funds includes
Revenue Share Funds (RSF), General Allocation Funds (GAF), and Special Allocation Funds (SAF). RSF is allocated to regions based on a specific percentage figure
to fund needs of the region within the
framework of decentralization. GAF is allocated for the purpose of inter-regional
equity finance capabilities. Special Allocation Fund (SAF) is allocated to a particular
area to help fund special activities that are
regional affairs and in accordance with national priorities.
Tax effort is the effort to increase
regional tax, measured from the ratio between return from all resources of regional
initial income (RII) with all potential of resources of RII. Tax effort is important in
boosting regional independence, measured
by RII, in which tax and retribution are the
main sources.
Regional Gross Domestic Product
is the total of added value resulted from
all economic sectors available in a region
for a certain period, or the sum of all income gained from all production factors
in that region in a certain period.
METHODS
This study uses a panel data from all districts/cities in East Java Province during the
period 2003-2008. The data are in the form
193
of District Budget (=Anggaran Pendapatan
dan Belanja Daerah = APBD) data and the
realization of the District Budget, obtained
from the Directorate General of Fiscal Balance, Ministry of Finance and Regional
Gross Domestic Product (RGDP) from the
Indonesia Central Bureau of Statistics.
The variables uses in this paper are
TE (Tax Effort), GAF (General Allocation
Funds), SAF (Specific Allocation Funds),
RII (Regional Initial Income) and Economic Growth based on Regional Gross
Domestic Product (RGDP). Tax Effort is
measured by finding the ratio of RII and
RGDP, as follows:
TE =
RII
RGDP
(1)
where TE is Tax Effort, RII is Regional Initial Income, in the form of tax revenue, and
RGDP is Regional Gross Domestic Product, as the proxy for RII potential.
Fiscal Independence, FI, is formulated as
FI =
RII
TR
(2)
where TR is Total Regenue in the region.
Economic growth (EGt) is measured
as the change in Regional Gross Domestic
Product (RGDP) divided by the initial
RGDP.
EGt =
RGDPt − RGDPt −1
x100%
RGDPt −1
(3)
This paper uses both descriptive and inferential methods to analyse the data. The descriptive analysis includes the presentation
of tables and graphs. The inferential analysis includes estimation of multiple regression models using panel data.
To determine the effect of GAF
and SAF to tax effort in East Java province,
194
the paper uses a multiple regression equation using panel data as follows:
ln TE it = i + 1 ln GAFit
+ 2 ln SAFit + t
(4)
To determine the effect of GAF, SAF and
RII to the economic growth of districts/cities in East Java province, the paper
uses a multiple regression equation using
panel data as follows:
ln RGDP it = i + 1 ln GAFit
+ 2 ln SAFit + 3 ln RII it
(5)
+ t
RESULTS DISCUSSION
Fiscal independence is the ratio of Regional
Initial Income (RII) to Total Revenue of the
relevant region. This ratio reflects the region's fiscal capacity in financing the development activities from its own sources.
The data on fiscal independence of the districts in East Java province during the period 2003-2008 can be seen in Figure 1 (in
the form of bar charts) and Figure 3 (in the
form of box plots).
From Figure 1 we can see that the
degree of fiscal independence of most districts in East Java province is between 0.05
to 0.10, except the districts of Gresik, Jombang, Tuban and Surabaya, which has a
degree of fiscal independence between
12.15 until 12.20. This means that in general, these districts could only fund a
maximum of 20% of local expenditures,
which is come from the regional initial income (RII). Districts which have higher
degree of fiscal independence are Tuban,
Jombang, Gresik and Sidoarjo.
LA
MO
LU NG
MA AN
JA
N
MA G
MA DIU
GE N
T
MA AN
MO L
JO AN
KE G
NG RTO
AN
JU
NG K
PA AWI
CI
TA
N
0.12
0.1
0.08
0.06
0.04
0.02
0
2003
2004
2005
2006
2007
2008
(i) The first 9 Districts: Bangkalan to Kediri
BA
N
BA GK
NY AL
UW AN
AN
GI
BO
B
JO LI
T
BO NEG AR
ND OR
OW O
OS
GR O
E
JE SIK
M
JO BE
MB R
AN
G
KE
DI
RI
0.2
0.15
0.1
0.05
0
(ii) The second 9 Districts: Lamongan to Pacitan
2003
2004
2005
2006
2007
2008
TULUNGAGU
TUBAN
TRENGGALE
SUMENEP
SITUBONDO
SIDOARJO
195
SAMPANG
PROBOLING
PONOROGO
PASURUAN
0.25
0.2
0.15
0.1
0.05
0
PAMEKASA
Regional Fiscal Independen … (Ahmad)
2003
2004
2005
2006
2007
2008
(iii) The Third 9 Districts: Pamekasan to Tulungagung
Source: Ministry of Finance.
Figure 1: Fiscal Independence, Districts in East Java Province, 2003-2008
To make things worst, Figure 1 also
shows that the degree of fiscal independence is getting lower from 2003 to 2008.
This means that the level of financial dependence of these districts is getting bigger.
Thus, it can be interpreted that one of the
purposes of the implementation of regional
autonomy, namely increasing local independence and gradually reduce regional
dependence, is not reached.
The degree of fiscal independence
of the cities in East Java can be seen from
Figure 2 (in the form of bar charts) and
Figure 3 (in Box Plots). It can be inferred
from the figures that degree of independence in most cities is less than 0.10. This
means that the ability of these cities to finance its expenditure, namely based on its
Regional Initial Income (RII), is less than
10%, while the rest comes from central
government assistance, in the form of GAF
and the SAF. Some cities with a quite high
degree of fiscal independence, namely between 0.10 to 1.2, is the city of Kediri and
Malang. The only city in East Java which
has a degree of fiscal independence between 0.20 to 0.40 is the city of Surabaya.
It can be concluded that the degree of fiscal
independence of most cities in East Java is
very low. Furthermore, the degree of fiscal
independence in the urban areas in East
Java province has decreased over the period 2003-2008.
When the situation is described in
the form of box plots, as in Figure 3, it can
be seen that the fiscal independence of Surabaya and Sidoarjo regency in 2007 are far
above the average and median degree of
fiscal independence of districts/cities.
Overall, the average degree of fiscal independence of all districts/cities in East Java
is very low, namely below 0.10, and tended
to decline during the period of 2003-2008.
This can be seen from the position of the
box plot that continues to decline and
shrinking, especially after 2005.
Fiscal independence in a region
cannot be separated from the tax effort undertaken by local governments. Tax effort
is an attempt to increase taxes by a local
government that is measured through a
comparison between the proceeds (realization) of RII with the potential RII. Because
the data of potential RII is not available and
is hard to measure, it is approximated by
Gross Regional Domestic Product (RGDP)
from the corresponding districts. Tax effort
demonstrates the government's efforts to
obtain income for the district considering
its potential sources. Potential is the target
to be achieved within the budget year that
area.
196
0.45
0.4
0.35
0.3
0.25
0.2
0.15
0.1
0.05
0
K_
BL
IT
AR
K_
KE
DI
K_
RI
M
AD
K_ IUN
K_ MA
M LA
OJ N
O G
KE
K_
RT
O
K_ PAS
PR UR
OB U
OL AN
IN
GG
K_
SU
O
RA
BA
YA
2003
2004
2005
2006
2007
2008
Source: Ministary of Finance.
Figure 2: Bar Chart for Fiscal Independence of District and Cities in
East Java Province, 2003-2008
.4
Surabaya
.3
Surabaya Surabaya
Surabaya
Surabaya
Surabaya
Sidoarjo
.2
.1
.0
T2003
T2004
T2005
T2006
T2007
T2008
Source: Ministry of Finance.
Figure 3: Boxplot Diagram for Fiscal Independence of District and
.020
Cities in Est Java Province, 2003-2008
Pacitan
Pacitan
.016
Pacitan
Pacitan
.012
.008
.004
.000
T2003
T2004
T2005
T2006
T2007
T2008
Source: Ministry of Finance and Indonesia Bureau of Central Statistics.
Figure 4: Boxplot Diagram for Tax Effort of District and Cities in
East Java Province, 2003-2008
Regional Fiscal Independen … (Ahmad)
197
The box plot diagram in Figure 4
shows that the tax effort rises slightly in
2004, but generally declines, especially
from 2004 to 2008. Except for Pacitan district, the tax effort is far above the districts/city, which is between 0.12 to 0.20,
the average ratio of tax effort of districts/cities is between 0.04 to 0.08.
Impact of Funds Transfer on Tax Effort
Transfer Funds from the central government include the General Allocation Fund
(GAF), the Specific Allocation Fund (SAF),
and Revenue share funds (RSF). The study
considers only GAF and SAF, because not
all regions get RSF. The results of GAF and
the estimated effect of SAF on Tax Efforts
are as follows:
ln TE = −5.2605 + 0.3847 ln GAF
− 0.0029 ln SAF
*
*
(6)
adj R2 = 0,9294
Prob(F-stat) = 0,0000
where * indicates significant at α = 1% .
The estimation results show that GAF has a
positive and significant impact on tax effort. However, the transfer of SAF does not
significantly affect tax effort. Thus, GAF is
expected to be a stimulus for local governments in East Java to explore the potential
fiscal districts/cities.
In another word, if these policies
continue, the region's fiscal independence
is expected to be higher in the future. It is
also evident from the results of simple regression between the variables of tax effort
(TE) with Fiscal independency (FI) which
shows that if local governments could increase tax effort (TE) of 1 unit, then the
degree of fiscal independence of the area
will increased by 1.93 units.
FI = 0.0769* + 1.9278* TE
(7)
adj R2 = 0,9052
Prob(F_Stat) = 0,0000
* signifikan α = 0,01
The Impact of RII and Equalizing Funds
on Regional Economic Growth
The impact of RII, the GAF and SAF on
economic growth (RGDP) can be seen
from the following regression equation.
ln RGDP = 9.7485* + 0.2767 * ln GAF
+ 0.00003 ln SAF
(8)
− 0.0008 ln RII
adj R2 = 0.9985,
Prob(F-stat) = 0.0000,
where * indicates significant at α = 1% .
From the above equation, it can be seen
that GAF significantly influence economic
growth. However, SAF and RII do not significantly influence economic growth. As it
is known that the use of the GAF is left entirely to each local government, and apparently giving GAF for all districts/cities in
East Java can be used by the local government for development purposes.
CONCLUSION
In this study, the design of Equalizing
Funds between central and local governments applies money-follows-function
principle, namely, financial resources have
to be given to the regions following the
delegated authority to the districts/cities in
the context of decentralization. After seven
years of regional autonomy, the degree of
fiscal independence of most districts/cities
in East Java province ranged only between
5-10 percent. This reflects the high fiscal
dependence.
This study found that GAF had a
significant positive effect on tax effort
made by local governments. However, the
transfer of SAF did not significantly in-
198
crease local tax effort. This means that in
the long run, central government should
focus more on GAF to increase the regional
fiscal independency. In addition, the transfer of GAF also had a positive and significant impact on regional economic growth.
Regarding the results of the analysis, a couple of suggestions could be made.
First, districts/cities with a low level of fiscal independence need to be more creative
in exploring potential sources of initial regional income levels to increase their fiscal
REFERENCES
independence. Second, the central government can continue the transfer of GAF.
However, it needs to investigate on how far
the grant will increase the tax effort before
it will eventually stop. Third, local governments should be more careful in using
GAF. It should consider the use of such
funds for capital expenditures associated
with the development of facilities and infrastructure that support the economy, so
the economy can grow even larger.
Brammer, S. and H. Walker (2011) "Sustainable Procurement in the Public Sector: An International Comparative Study," International Journal of Operations & Production
Management, 31(4), 452-476.
Chotimah, F.C. (2006), “Analisis Perbandingan Kinerja Keuangan Pemerintah Daerah Kabupaten Lumajang Sebelum dan Sesudah Otonomi Daerah,” Unpublished Paper,
Faculty of Economics, Universitas Muhammadiyah Malang.
De Mello Jr., L.R. (2000),”Fiscal Decentralization and Intergovernmental Fiscal Relations:
A Cross-Country Analysis,” World Development, 28(2), 365-380.
Halim, A. (2004), Bunga Rampai Manajemen Keuangan Daerah, Edisi Revisi, UPP UMP
YKPN, Yogyakarta.
Makrifah, S.A. (2010), “Analisis Pengelolaan Keuangan Daerah dan Dampaknya terhadap
Pembangunan Ekonomi Provinsi Jawa Timur,” PhD Thesis, Institut Pertanian Bogor.
Muliana (2009), “Pengaruh Rasio Efektivitas Pendapatan Asli Daerah, Dana Alokasi
Umum, dan Dana Alokasi Khusus terhadap Tingkat Kemandirian Keuangan
Daerah pada Pemerintahan Kabupaten/Kota Di Provinsi Sumatera Utara,” Thesis,
Universitas Sumatera Utara.
Sihite, F. (2009), “Pengaruh PAD, DAU, DAK dan Belanja Modal terhadap Pertumbuhan
Ekonomi Daerah di Kabupaten/Kota Provinsi Sumatera Utara,” Thesis, Faculty of
Economics, Universitas Sumetara Utara.
Thai, K.V. ((2001), “Public Procurement Re-examined,” Journal of Public Procurement,
1(1), 9-50.
Waluyo, J. (2007), “Dampak Desentralisasi Fiskal terhadap Pertumbuhan Ekonomi dan
Ketimpangan Pendapatan antar Daerah di Indonesia?” Workshop on Fiscal Decentralization, 12 December, Universitas Indonesia.
Wulansari, R. (2006), “Analisis Kinerja Keuangan Pemerintah Daerah Kabupaten Asahan
Sebelum dan Sesudah Otonomi Daerah,” Thesis, Universitas Sumatera Utara.
Yuliati (2001), “Analisis Kemampuan Keuangan Daerah dalam Menghadapi Otonomi
Daerah,” in Halim, A. (Eds), Bunga Rampai Manajemen Keuangan Daerah, 1st
Edition, Unit Penerbit dan Percetakan (UPP) AMP YKPN, Yogyakarta.